By Wolf Richter
Eurozone countries are falling like dominos. Next: Slovenia. But bailouts – by taxpayers in other countries – keep banks from collapsing, governments form defaulting, and investors from incurring well-deserved losses. In the US, President Obama’s budget, with its new taxes, is causing heart palpitations left and right. But how do countries really stack up?
Eurozone countries are falling like dominos. But bailouts—funded by taxpayers in other countries—keep banks from [...]
AFP - The cascade of WikiLeaks-style revelations shedding light on the often murky world of offshore tax havens began when Gerard Ryle received a mysterious letter in the post.
The experienced investigative journalist had been busy trying to unravel the details of a large financial fraud in his native Australia when the prospect of an even bigger scoop landed on his doormat.
The letter contained part of a hard drive with the details [...]
REPORT: Russian Banks Have $40 Billion At Risk In Cyprus
The “Wealth Tax” Contagion Is Rapidly Spreading: Switzerland, Cyprus And Now
It was only yesterday that we wrote about comparable problems to those which Russian depositors may (or may not be?) suffering in Cyprus right, this time impacting wealthy Americans and their Swiss bank accounts, where as a result of unprecedented DOJ pressure the local banks will soon breach all client confidentiality and expose all US [...]
Looks like Cyprus banks aren’t reopening tomorrow after all – all banks to remain closed until Thursday. Not enough cash?
The Associated Press‏@AP4 min
BREAKING: Cyprus Central Bank: Finance minister has ordered all banks to remain closed until Thursday
Cyprus Market‏@russian_market29 s
Not again! Cyprus banks to remain closed through March 27: Central bank
Cyprus Market‏@russian_market49 s
Banks closed in Cyprus till March 27. Then what? Easter holidays? *sigh
The Cyprus Central Bank would like to [...]
Cyprus told: take bank levy or leave euro
President, eurozone finance ministers and bailout troika hold emergency meeting as €100 limit imposed on ATM withdrawals
Wealthy Russians stand to lose billions of euros in Cypriot banks under draconian terms being hammered out on Sunday night in Brussels to prevent the Mediterranean tax haven becoming the first country forced out of the single currency.
Negotiations got underway [...]
Interesting interview by Medvedev today who admitted that most Russian government agencies use Cyprus for it’s financial transactions.
A few points here:
-How corrupt does a country have to be for its government agencies to use a tax haven for financial transactions?
-From latest reports, the Cypriot banks might open on March 26th at the earliest. That’s two weeks after being shut down. That’s two weeks of unmet financial obligations, ie government employee [...]
Monaco has the highest life expectancy in the world at 89.68 years
Chad has the lowest level of life expectancy at 48.69 years
America ranks 51st in the table with 78.49 years, while the United Kingdom comes in 30th at 80.17 years
This colour-coded map reveals the startling difference in life expectancies across 222 of the world’s countries.
The map shows how people are likely to live the longest in developed countries with state-funded [...]
The Obama campaign’s ads against Mitt Romney’s foreign holdings have rubbed the government of Switzerland the wrong way.
The famously neutral country confirmed to POLITICO they have raised the issue with President Obama’s Chicago campaign.
Swiss embassy spokeswoman Salome Ramseier says that it “has communicated with the Obama campaign headquarters to object to the ads giving the impression that simply having a Swiss bank account means that the accountholder is trying to hide money from the [...]
GEORGE TOWN, Cayman Islands (Reuters) – Known as a tax haven for the mega rich around the world, the Cayman Islands is proposing the unthinkable: a direct tax on expatriates to help fix the budget woes of the British territory.
The proposal – called a “community enhancement fee” and unprecedented in the island’s history – is effectively a 10 percent payroll tax on all foreign workers earning income over US$24,000 in [...]
by Carl Herman
Using data from the BIS, IMF, World Bank, and governments, former Chief Economist at McKinsey, James Henry, reports the 1% have deposited $21 trillion to $32 trillion in tax havens to evade taxes. Related, theFederal Reserve reports the US top seven banks have over $10 trillion in assets recorded in over 14,000 created “subsidiaries” to avoid taxes.
The 1% hide more than total annual economic output of the US and Japan combined. This is [...]
Runs a significant operation from Republic of Ireland where tax rates are almost half
Latest technology firm to be accused of avoiding UK tax following Amazon and Google
Apple paid a paltry £10million in UK corporation tax in the last financial year, despite earning an estimated £6billion in the country over the period.
It is the latest technology firm to be accused of avoiding UK tax, following Amazon and Google.
Apple runs a significant [...]
From Rose King:
Thursday, January 19, 2012
ZIO-MEDIA-PROPAGANDA IS A DRUG!
Just have to say,
It is really bad when you have a tax cheat predator and a womanizing two-timer hypocrite running for office. Both of these corrupted rat bigots romney and gingrich are evil to the core and are NOT for the American People and their records PROVE IT!
THE CRIME IS THE ZIO-MEDIA-PROPAGANDA TV DRUG COVERS IS ALL UP!
Why aren’t people asking more [...]
video platformvideo managementvideo solutionsvideo player
Although it is not apparent on his financial disclosure form, Mitt Romneyhas millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven.
A spokesperson for the Romney campaign says Romney follows all tax laws and he would pay the same in taxes regardless of where the funds are based.
As the race for the Republican nomination heats up, Mitt [...]
European economy goes into reverse:
As UK government gets desperate and starting to panic over its debt levels, it announces first government departments in the first wave of austerity measures to have enforced cuts and job losses, a month ahead of schedule:
â€˜Hatchet manâ€™ Eric Pickles, a supporter of more extreme cuts and austerity measures, brought in to enforce severe austerity measures:
Directly and indirectly possibly yes and the person in [...]